real estate notes feb 5

real estate notes feb 5 - I. II. III. IV. Conveyance of...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
I. Conveyance of Property Rights (Title) a. Title- signifies ownership interest in real estate i. Title is not equal to estate 1. estate- legal rights in property 2. title- ownership interest ii. Title generally is transferred through the use of a deed 1. deed- written document in which owner transfers legal rights in property a. deed transfers title and is evidence of ownership iii. Grantor/grantee index- where all the deeds affecting property owned in a county are held- chain of title/ history of ownership II. Minimum requirements of a valid deed a. Name(s) of the grantor/grantee must be on the document i. Must have mutual assent (meeting of the minds) b. Proper description of the real estate being conveyed (legal description i. Address is not enough ii. Must have boundaries and dimensions of the property c. Must contain specific words of conveyance (granting clause) i. Tells what is being transferred d. Must contain statement of valuable consideration i. What of value is being exchanged ii. Does not have to say exact value 1. ex.- could say “$10 plus other valuable consideration”
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

real estate notes feb 5 - I. II. III. IV. Conveyance of...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online